The house we like to buy has been underpinned need some urgent advice please!

hazyjo

Personally, I wouldn't touch an underpinned house. Think about selling it on in the future. If they really thought it wouldn't make any difference to a valuation, they'd have disclosed it at the beginning. They know it'll put buyers off. The valuer did value it at the price you agreed to pay, but did he know that you weren't aware of the underpinning when you made that offer? Generally, they value at or under the agreed price. For whatever reason, he's agreed that it's a fair price, but I'm betting he thought you knew about the underpinning.

Jx

zooloo

Thing is the couple did advise it was underpinned before we made an offer and it was in passing conversation when I said has the house ever suffered from subsidence (as there is railway track at the back of the garden) and she said no it has been underpinned. But at that time I did not really know what underpinning was and the resale and insurance implications before I put in the offer. This is the first time I have come across all of this

hazyjo

Ah yep, just reread your OP - had mistakenly thought it was after, not before. Well, I don't think you have much comeback on price, tbh. She told you, you offered it, it was valued at that... I think your choices are: buy it, or walk away and chalk it up to lesson learned. Of course, you can try knocking the price down, but as a vendor I'd not be particularly impressed.

Jx

clutton_2

get the vendors to buy a structural survey - if they refuse... you may surmise that they know what the findings will be... and you should perhaps walk away..

underpinning per se is not always a bad thing. How long ago it was done and is the house still moving ? are the two crucial questions that any surveyor will want to answer.....

have any other houses in the street been underpinned... is it a mine area ? ask the neighbours who have lived there for a long time...

mp80

Walk away would be my advice, not worth it, underpinning and subsidence are the words that strike the most fear into any prospective buyer (even more so in the current economic climate)

zooloo

Can I ask them to buy a structural survey? I didn't think I could.

They bought their house in the year 2000 and the underpinning happened before they moved in so over 12 years ago. The latest valuation and survey we had done says that the chances of subsidence are remote, that was their words.

I wanted to ask the neigbours of that street if they have also had issues. Can I just knock on their door? Won't they think I am weirdo?

tooldle

Our previous house had been underpinned, the year before we purchased it. We too experienced the insurance problem, but fairly quickly found that other companies would not insure due to it being a recent claim. Once a number of years had passed (5 maybe) we moved to a new company with no problems what so ever. MY parents experienced the same with a flood claim. If the insurance company paid for the works, there should be documents somewhere, ask the vendor to contact the insurance company.
I'm not sure why underpining scares people. Around these parts its fairly common, although I have met people with victorian houses who think the concrete floor is original!

zooloo

Hi Tooldle. When you came to sell your underpinned property again did you have problems selling it?

Also it doesn't matter even if we wait another 10 years once a property is been underpinned we can only stay with the same insurer or move to a specialist one. Not sure what you mean when you say you could move to another insurer after 5 years.

I am going to ask the current owners to ask their insurance company if they can aquire more documentation with regards to the underpinning and see if they can get the report from them. Good idea!

Thanks

clutton_2

there is no reason at all why you should not ask your solicitor to ask the vendor to buy a new structural survey.... information on what the property's condition was in at the time of underpinning is pointless.... you want info on whether it is now stable or not.

of course knock on the neighbours doors.. with a smile just say "i'm considering moving into the street and had heard there may be subsidence issues and wonder if you know anything about it please?"

zooloo

clutton wrote: »

there is no reason at all why you should not ask your solicitor to ask the vendor to buy a new structural survey.... information on what the property's condition was in at the time of underpinning is pointless.... you want info on whether it is now stable or not.

of course knock on the neighbours doors.. with a smile just say "i'm considering moving into the street and had heard there may be subsidence issues and wonder if you know anything about it please?"

T
Thank you Clutton.

I am going to ask my estate agent to ask the current owners a) if they will pay for a structural engineering report and b) if they can contact their insurers to get more information about the reason why it happened in the first place and for general information.

I will also knock on some neighbours doors!

Thanks for your advice.xxx